Gunnedah Shire CouncilEconomic profile

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At June 2016, the Gunnedah Shire had a median house valuation of $356,463, $281,070 lower than the median house valuation for New South Wales.

Housing valuation and rental data are a measure of the economic desirability of living in the local area. High housing prices usually indicate access to high-paid jobs and a very desirable area. However they can present issues in attracting and retaining key lower skilled workers. Lower housing prices indicate less demand and may be an asset for attracting people to live in the area. However they can also indicate lower paid and lower skilled jobs or a declining economy.

Housing prices often factor in a home ownership premium due to expected capital growth and the ability to customise the property, but rental costs are a more direct measure of the immediate economic value of living in the area. Increases in rents often have a more direct relationship to employment and demand for housing.

Hometrack 2011-2016, Housing Valuation System

Housing values
Gunnedah Shire20162013Change
Housing value (at June)Gunnedah ShireNew South WalesGunnedah Shire relative to New South WalesGunnedah ShireNew South WalesGunnedah Shire relative to New South Wales2013 to 2016
House--------------
First Quartile$255,737$418,171-38.8%$225,807$331,720-31.9%+$29,930
Median$356,463$637,533-44.1%$302,457$457,239-33.9%+$54,006
Third Quartile$522,388$1,038,768-49.7%$425,057$701,375-39.4%+$97,331
Unit--------------
First Quartile$132,628$422,764-68.6%$240,912$305,938-21.3%-$108,284
Median$174,320$614,575-71.6%$250,151$430,178-41.8%-$75,831
Third Quartile$230,530$811,857-71.6%$268,026$570,847-53.0%-$37,496

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2016
Housing values, 2016 Third Quartile, New South Wales: $811,857 Median, New South Wales: $614,575 First Quartile, New South Wales: $422,764 Third Quartile, New South Wales: $1,038,768 Median, New South Wales: $637,533 First Quartile, New South Wales: $418,171 Third Quartile, Gunnedah Shire: $230,530 Median, Gunnedah Shire: $174,320 First Quartile, Gunnedah Shire: $132,628 Third Quartile, Gunnedah Shire: $522,388 Median, Gunnedah Shire: $356,463 First Quartile, Gunnedah Shire: $255,737
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2016
Change in housing values, 2013 to 2016 Third Quartile, New South Wales: $241,010 Median, New South Wales: $184,397 First Quartile, New South Wales: $116,826 Third Quartile, New South Wales: $337,393 Median, New South Wales: $180,294 First Quartile, New South Wales: $86,451 Third Quartile, Gunnedah Shire: $-37,496 Median, Gunnedah Shire: $-75,831 First Quartile, Gunnedah Shire: $-108,284 Third Quartile, Gunnedah Shire: $97,331 Median, Gunnedah Shire: $54,006 First Quartile, Gunnedah Shire: $29,930
Source: Hometrack 2011-2016, Housing Valuation System

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